FlyDubai eyes partnership with SpiceJet

By: |
New Delhi | Published: December 1, 2015 9:46:44 AM

SpiceJet, which is firming up its ambitious fleet expansion plans, is evaluating possible partnership with Gulf's low cost airline FlyDubai.

Flydubai, spicejetSpiceJet, which is firming up its ambitious fleet expansion plans, is evaluating possible partnership with Gulf’s low cost airline FlyDubai. (Reuters)

SpiceJet, which is firming up its ambitious fleet expansion plans, is evaluating possible partnership with Gulf’s low cost airline FlyDubai.

Apart from FlyDubai, the domestic carrier has received interest from various other Gulf airlines for collaboration, including for possible strategic investment, sources said.

Spokespersons of SpiceJet and FlyDubai could not be immediately reached for comments.

FlyDubai has evinced interest for partnership with SpiceJet and both sides will discuss various options, including the possibility of the Gulf carrier making a strategic investment in the domestic airline, sources said.

Dubai-based Flydubai operates to over 95 destinations across the Middle East, Asia, Africa, Russia and Eastern Europe.

The airline operates 29 flights per week to eight Indian cities — Ahmedabad, Chennai, Delhi, Hyderabad, Kochi, Lucknow, Mumbai, Thiruvananthapuram — from Dubai.

Meanwhile, sources also said SpiceJet plans to place an order for about 150 new aircraft and in this regard, the airline is in talks with various manufacturers, including Airbus and Boeing. A final decision on the number of planes to be ordered is yet to be taken, they added.

After going through turbulent times, SpiceJet saw the return of its original co-founder Ajay Singh at the helm in January this year. The no-frills carrier, which has turned profitable in the last two quarters, is looking to raise money for its ambitious fleet expansion plans.

At present, the carrier has around 41 planes in its fleet, including 25 Boeing 737s, 14 Bombardier Q400s and two leased Airbus 320 family.

Remaining profitable for the third straight quarter, SpiceJet posted a net profit of Rs 23.77 crore in the three months ended September.

The carrier had a net loss of Rs 310.45 crore in 2014 September quarter. Flydubai, however, in a statement later said that it is not in talks with SpiceJet.

“Flydubai confirms that it is not in talks with SpiceJet,” the Dubai-based airline said in the statement.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Next Stories
1In Perspective: Stage set for the underdogs
2Wooing the Un-Metro Guy
3Numerology: Mobile Subscriptions